A Picture is Worth a Thousand Words
Posted By Bobby Eberle On March 4, 2009 at 7:45 am
President Obama simply does not get it. Rather than put forward a plan that puts Americans back to work by letting Americans choose how to best stimulate the economy -- i.e., across the board tax cuts -- he believes government should be in control. The Obama plan is to inject government into more aspects of our lives and have a select few people -- the rich -- pay for it. Question, if the people who actually hire workers are forced to pay even higher taxes, do you really think they will hire as many workers?
Obama's latest comments regarding the stock market are further proof that he is either out of touch with American society or he is purposely leading us down a path to socialism. His flippant comparison of the stock market to a public opinion poll shows how little he connects with hard-working Americans. As families' retirement savings are going up in smoke, Obama is dismissing the Dow as irrelevant. Ok, let's just say the Dow is like an opinion poll... then, I have a picture for you... a picture that is worth a thousand words...
On Tuesday, Obama proved that he was truly out of touch with the American people. In meetings with British Prime Minister Gordon Brown, Obama took the time to address the ongoing plunge in the stock market. Despite the fact that the Dow Jones Industrial Average (DJIA) is at its lowest level since 1997, Obama compared the "day-to-day gyration" as similar to a campaign tracking poll.
"What I'm looking at is not the day-to-day gyrations of the stock market, but the long-term ability for the United States and the entire world economy to regain its footing," Obama said.
"And, you know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, and if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong."
In the Associated Press story on GOPUSA, Obama is quoted as saying that "profit and earning ratios are starting to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it."
Long term perspective? What about all the people who have had a long term perspective? You know... it's called "retirement planning." Every time Obama opens his mouth to force more government on us, the retirement savings (mostly held in stocks) goes down the toilet.
Just look at the picture above. If you click on the image, a nice, printable PDF version appears.
When Obama was not even president but decided to go lobby Congress for big government spending, what happened? The stock market headed south. When the massive stimulus bill passed Congress, what happened? The stock market headed south. Oh, and then Obama announces even more billions for his mortgage bailout plan. What happened then? That's right... the market keeps heading in the same direction!
And Obama calls this "day-to-day gyrations?" Doesn't an object have to move both up and down to be considered to be gyrating? If this is an opinion poll, I'd hate to be the person that it's tracking.
And Obama wants to turn this economy around by increasing taxes on the very people who already pay most of the taxes. Turn the economy around? How about turning it on its ear. With the Bush tax cuts, all rates were dropped. Millions were removed from the income tax rolls altogether. But Democrats, such as Rep. John Lewis (D-GA) have the nerve to say that changing the top bracket is "making the tax code more fair." Taxing anyone in this country 35% of their income is NOT fair. It should be illegal. Moving that number to nearly 40% is simply un-American. But that is what Obama and his team are selling, and they are using class warfare to sell it.
It's amazing that Obama will bad-mouth those who have worked hard to achieve the American dream and yet expect to use them to pay for all his programs. We are all supposed to strive to do better. But Obama wants to punish that success. If taxes were cut for all Americans, just think of the huge amount of cash that would be injected into the system.
Obama and the liberal Democrats need to have more faith in the American people. I believe we can achieve anything, if allowed to try. But, I don't want to pay for someone else's mistake or some program that represents how liberals think Americans should live. If Obama had more faith in the American dream and the American spirit, I think we'd see that graph turn in a different direction.